Leonard Damien 4
4 · TruBridge, Inc. · Filed Jul 10, 2026
Research Summary
AI-generated summary of this filing
TruBridge (TBRG) Director Leonard Damien Sells 2.98M Shares
What Happened
Leonard Damien, a TruBridge (TBRG) director, reported dispositions totaling 2,980,000 shares on July 9, 2026. The shares were surrendered to the issuer under the Merger Agreement and converted into cash at $26.25 per share—2,130,000 shares for $55,912,500 and 850,000 shares for $22,312,500—totaling $78,225,000. This was a disposition to the issuer (merger cash-out), not an open-market sale.
Key Details
- Transaction date: July 9, 2026; Form 4 filed July 10, 2026 (timely filing).
- Price and amounts: 2,130,000 shares @ $26.25 ($55,912,500) and 850,000 shares @ $26.25 ($22,312,500); combined proceeds $78,225,000.
- Transaction code: D (Disposition to the issuer) — shares were cancelled and converted to cash per the Merger Agreement.
- Shares owned after transaction: Outstanding TruBridge common shares were canceled in the Merger and converted into cash; post-transaction share ownership of common stock would no longer apply.
- Footnotes: (F1) Dispositions resulted from the April 23, 2026 Agreement and Plan of Merger that converted each outstanding share into $26.25 in cash effective July 9, 2026. (F2/F3) Some reported securities were held by entities (L6 Holdings Inc., Pinetree-related entities) and the reporting person disclaims beneficial ownership except for any pecuniary interest.
Context
This transaction reflects the contractual cash-out under a completed merger (Merger Sub merged into TruBridge, which became a wholly owned subsidiary), not a market-driven sale by the insider. For retail investors, merger-related dispositions are routine execution of merger terms rather than a direct signal about future company performance.
Insider Transaction Report
- Disposition to Issuer
Common stock, par value $0.001 per share ("Common Stock")
[F1][F2]2026-07-09$26.25/sh−2,130,000$55,912,500→ 0 total(indirect: L6 Holdings Inc.) - Disposition to Issuer
Common Stock
[F1][F3]2026-07-09$26.25/sh−850,000$22,312,500→ 0 total(indirect: Pinetree Capital Ltd.)
Footnotes (3)
- [F1]This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of April 23, 2026, by and among the Issuer, Inventurus Knowledge Solutions, Inc. a Delaware corporation ("Parent"), IKS Next Horizon, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), and solely for certain limited purposes as specified therein, Inventurus Knowledge Solutions Limited, an Indian public limited company, pursuant to which, among other things, each oustanding share of Common Stock of the Issuer was cancelled and converted into the right to receive $26.25 in cash, without interest, effective July 9, 2026 (the "Merger"). After completion of the Merger, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving entity and a wholly owned subsidiary of Parent.
- [F2]Securities owned directly by L6 Holdings Inc. ("L6"). The Reporting Person serves as a Managing Director of L6. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F3]Securities reported herein for Pinetree Capital Ltd. ("PCL") are held by Pinetree Investment Partnership ("PVP"). Pinetree Capital Investment Corp. ("PCIC") holds 99.99% of the outstanding equity interests of PVP. Emerald Capital Corp. ("Emerald") holds .01% of the outstanding equity interests of PVP. PCL is the parent company and holds 100% of the outstanding capital stock of each of PCIC and Emerald. The Reporting Person is the President of PCL. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.